UUCF’s Endowment Fund is a fund completely separate from the Operating Fund, Capital Improvement Fund, and any other fund maintained at UUCF.

Its purpose is to provide a financial underpinning to the wellness of UUCF.  When the fund becomes of sufficient size it may be the source of useful funding, especially for special projects.

The biggest source of funds is bequests but gifts of any size and given at any time are welcomed.

The Fund may be held in securities, bonds, mutual funds, or money markets and must include socially responsible investments.

The balance in the fund as of the fall of 2007 is approximately $197,550.

Who is on the Endowment Fund Committee?

The members of the committee are a congregationally-elected group of volunteers who are committed to the future of UUCF.

The following are the current members of the committee:

Margaret Barardelli . . . . . . . . . . . 703-476-8383

Bob Commisso. . . . . . . . . . . . . . . 703-503-4541

Judy Gallimore (chair). . . . . . . . . . 703-532-4005

Marie Ann Leyko . . . . . . . . . . . . . 703-242-3632

Bob Stemetzki . . . . . . . . . . . . . . 703-281-1075

Herb Ware . . . . . . . . . . . . . . . . 703-938-7419

 How Do I contribute to the Endowment Fund?

1. Make a provision in your Will or Living Trust

BENEFITS: You will leave a legacy expressing your deepest values while also removing possible taxable assets from your estate.

2. Give Cash

BENEFITS: This is a simple way to benefit the UUCF Endowment and gain a tax deduction.

3. Give assets such as securities or marketable real estate.

BENEFITS:  This is an immediate way to benefit the UUCF Endowment. The current value of the asset is the amount of your gift so giving an asset that has appreciated offers several tax-favorable advantages

4. Designate UUCF as the beneficiary of a paid up Life Insurance policy that you no longer need.

BENEFITS: You will leave a legacy and you will remove it from your estate.

5. Designate UUCF as the beneficiary of an IRA or other qualified retirement plan. Legally, you must specify the church as a beneficiary on the form provided by the owner of your plan. Indicating your intentions in your will alone is insufficient.

BENEFITS: You will leave a legacy and remove completely from your estate assets that, at the minimum, would be subject to income tax in the hands of a non-charitable beneficiary.

6. If you are 60 or older and wish to receive steady, secure, lifetime income, set up a One- or Two-Life Current Charitable Gift Annuity through the UUA in Boston to benefit UUCF. You or other annuitants receive fixed income for life and an immediate tax deduction. The older you are, the higher the payout. Payouts to you are partially tax free and partially taxed as ordinary income, or, if you fund the annuity with appreciated securities, the payout is partially taxed at the low capital gains tax rate. 

BENEFITS: Income for life, immediate charitable deduction, and a legacy to UUCF.

7. If you are in your 40s or 50s, you can lock in significant income starting at retirement (say age 65) by establishing a One- or Two-Life Deferred Gift Annuity through the UUA in Boston that ultimately benefits UUCF.

BENEFITS: Certain income during your retirement years, immediate charitable deduction, and a legacy to UUCF.

8. The most popular charitable trust is a Charitable Remainder Unitrust. You can establish one with UUCF as the charitable beneficiary or remainderman when the trust ends. You may also be able to utilize insurance or a wealth replacement trust to benefit beneficiaries. Unlike a standard Charitable Gift Annuity, you can use marketable real estate to fund the trust. A trustee you designate will manage the trust, sell and invest the assets, and make annual distributions. You can make additional contributions.

BENEFITS: Variable income, charitable deduction, and a legacy to UUCF.

9. Establish a Life Estate agreement. You give your primary residence to UUCF now, but you will continue to live in it for the rest of your life.

BENEFITS: You receive a valuable charitable income tax deduction and leave to UUCF property it can sell to support its mission.

Hints

Make sure that you designate the UUCF Endowment Fund as the beneficiary of any gifts or bequests intended for the Endowment Fund.

You can amend your will without re-writing the whole document. This is called a codicil. See your attorney.

Free information and help in setting up annuities that benefit UUCF and/or the UUA is available from the UUA.

Many informative pamphlets are available in the rack over the water cooler in the sanctuary building at UUCF.